The Reason Why The New Rules For Getting A Connecticut Home Mortgage May Cost You Big Time

By [http://ezinearticles.com/?expert=Christoper_Rivers]Christoper Rivers

In all the years I have been helping people get affordable Connecticut home mortgages I have never seen so good people apply for so many loans that get turned down the first time out the gate. It seems that if you have on a purple shirt instead of a white one you will get turned down for a mortgage. If you drive a Toyota Camry instead of a Honda you will get turned down. I swear to you that many days me and my team feel like mortgage lender underwriters really are trying to force the economy into a deep recession.

Okay, now that I got that off my chest let me tell you the new rules that will allow you to get approved for a Connecticut home mortgage in this new and challenging marketplace. The first thing that you have to do is work with a mortgage broker who knows his or her way around many lenders. I am talking about finding a gritty nosed Connecticut home mortgage broker with a knack for getting things done. Once you have been turned down by all the major banks that make thousands of dollars each year off your interest you will need an advocate in your corner that doesn't want you to transfer your checking account over.

The second thing you have to do is look at how much money you spend each month on housing, car payments, credit cards and anything else that shows up on your credit reports each month. The reason why is because when qualifying for a Connecticut home mortgage the mortgage lenders are not allowing you to use up to fifty five percent of your income like in the old days. These days they only want to see you using thirty to forty percent of your income on all your monthly expenses.

These are just a few of the tips that will give you the upper-hand when applying for a Connecticut home mortgage. If you want more information about what you can do in this tough market to get to a fixed mortgage then let me know.

If you have bad, low or no credit we are the only Connecticut Mortgage Lender that still specializes in working with helping people get approved who have low credit scores, no credit scores, bankruptcy or foreclosure. [http://www.ctmortgageplanners.com/fthb.htm]Click here for your low rate Connecticut home mortgage

If you really need to get approved for a FHA mortgage to buy or refinance your home really quickly then [http://www.ctmortgageplanners.com/]Click here for your Connecticut home mortgage.

Article Source: http://EzineArticles.com/?expert=Christoper_Rivers http://EzineArticles.com/?The-Reason-Why-The-New-Rules-For-Getting-A-Connecticut-Home-Mortgage-May-Cost-You-Big-Time&id=1099757

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